UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of [February] 2007
MIRAE CORPORATION
(Translation of registrant’s name into English)
#9-2, CHA AM-DONG, CHUN AN, CHUNG CHONG NAM-DO 330-200
REPUBLIC OF KOREA
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ( ü ) No Form 40-F ( )
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ( ) No ( ü )
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .
The registrant files with the Korea Securities Exchange the notice dated February 12, 2007. Attached is English language version of the notice.
The following table sets forth the summary of the decision on disposal of Equities of SOFTFORUM Co., Ltd.
1. Details of issuing company | Name of company | SOFTFORUM Co., Ltd. | Representative | Kim Sang-Cheol, Johnson Yoon | ||||||||||
| Capital Stock (KRW) | 5,920,000,000 | Total number of outstanding Shares | 11,840,000 | |||||||||||
Relationship to company | Non-related company | |||||||||||||
| Main Business | R&D and selling of software related PKI based security solution business | |||||||||||||
2. Details of disposal | Number of shares to be disposed | 243,331 | ||||||||||||
| Disposal Amount (KRW) | 973,324,000 | |||||||||||||
| Equity Capital (KRW) | 122,862,217,692 | |||||||||||||
| Ratio to Equity Capital (%) | 0.79 | |||||||||||||
| Applicability of Large-scale Corporation | No | |||||||||||||
3. Number of shares held and shareholding ratio after disposal | Number of Shares Held | 0 | ||||||||||||
| Shareholding Ratio | 0 | |||||||||||||
4. Purpose of disposal | Taking profit from investment | |||||||||||||
5. Scheduled disposal date | February 12, 2007 | |||||||||||||
6. Date of Board of directors’ resolution (Decision date) | February 12, 2007 | |||||||||||||
-Attendance of outside directors | Present (No) | 2 | ||||||||||||
| Absent (No) | 1 | |||||||||||||
-Attendance of auditors (members of Audit Committee) | Present | |||||||||||||
7. Other reference concerning investment decisions | -Disposition of Equity will be made as soon as possible even though specific disposal date is undecided. | |||||||||||||
 Relevant Disclosure: - | ||||||||||||||
The following table sets forth the summary of Sales or profit and loss change over 30% of the latest fiscal year of 2006 compare to the previous fiscal year of 2005.
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| 1. Details of changes (thousand KRW) | Current fiscal year | Previous fiscal year | Amount increased/ Decreased | Increase/ Decrease Rate (%) | ||||||
| - Sales | 85,884,894 | 98,777,901 | -12,893,007 | -13.1 | ||||||
| - Operating Income | -13,174,827 | 1,905,316 | -15,080,143 | -791.5 | ||||||
| - Ordinary Income | -33,024,064 | 2,563,178 | -35,587,242 | -1,388.4 | ||||||
| - Net Income | -33,024,064 | 2,563,178 | -35,587,242 | -1,388.4 | ||||||
| - Applicability of Large-Scales Corporation | No | |||||||||
| 2. Financial Status (thousand KRW) | Current fiscal year | Previous fiscal year | ||||||||
| - Total Assets | 168,576,905 | 219,654,001 | ||||||||
| - Total Liabilities | 79,659,787 | 96,791,784 | ||||||||
| - Total Shareholders’ Equity | 88,917,119 | 122,862,218 | ||||||||
| - Capital Stock | 18,387,350 | 18,387,350 | ||||||||
| - Total Shareholders’ Equity/Capital Stock Rate (%) | 483.6 | 668.2 | ||||||||
| 3. Main reason for changes in Sales or Profits and Losses | -Decrease of Sales due to the depreciation of foreign exchange rate -Aggravation of business operations with an affiliated company have caused increasing of the loss on valuation using equity method of accounting and bad debt expense. | |||||||||
| 4. Date of Board of Directors’ Resolution (Decision Date) | February 12, 2007 | |||||||||
| - Attendance of Outside Directors | Present (No) | 2 | ||||||||
| Absent (No) | 1 | |||||||||
| - Attendance of Auditors (Members of Audit Committee) | Present | |||||||||
| 5. Other references concerning Investment Decisions | - The above figures are not confirmed by independent accountants and can be changed in the course of audit. | |||||||||
| Relevant Disclosure: - | ||||||||||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: February 13, 2007
By | /s/ Gi-Hoon Joung | |
| Gi-Hoon Joung | ||
| Mirae Corporation | ||
| Director of Accounting Team and Acting CFO | ||
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